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Breaking: Germanys GDP Growth Slows More Than Expected

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posted on Aug, 16 2011 @ 02:24 AM
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This just in: www.bloomberg.com

The German economy, Europe’s largest, almost stalled in the second quarter as the region’s sovereign debt crisis weighed on confidence.



The worse-than-expected GDP data add to signs Europe is flirting with a renewed economic slump. France’s recovery unexpectedly ground to a halt in the second quarter, Italian and Spanish expansion remained sluggish and Greece’s economy contracted.



“The German data are certainly disappointing,” said Juergen Michels, chief euro-area economist at Citigroup in London. “Everything is pointing toward stagnation in the euro area in the second quarter.”


It was already scheduled for today that France and Germany were going to discuss the crisis, and they already ruled out introducing bonds, source


French president Nicholas Sarkozy and German chancellor Angela Merkel, are due to meet Tuesday after the European Central Bank was forced to intervene again in the crisis.



However, French and German officials have been playing down the notion of a eurobond solution to the problem in recent days, despite several days of speculation, as the ever-increasing financial burden of keeping the crisis at bay seems to be pointing to a drastic, catch-all approach to solving the problem.


What does globalist George Soros think?


Billionaire investment guru George Soros has launched a media campaign advocating the move, writing in several major European publications. "Only Germany can reverse the dynamic of a European decay. Germany and other countries with a AAA rating have to approve some sort of euro-bond regime. Otherwise, the euro will implode," he wrote in a German newspaper last week. A similar opinion piece appears in today's FT.



We already know that Germany hates having to be sucked dry by weak economies like Greece, Spain, Italy, and France so it will be very interesting to see what comes out of the meeting today, especially now that lower than projected GDP numbers are in.


edit on 16-8-2011 by BlackStar99 because: fix link
edit on 16-8-2011 by BlackStar99 because: (no reason given)
extra DIV




posted on Aug, 16 2011 @ 02:36 AM
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Is it just my computer or is this only in firehose and not the new topics feed?

Nevermind it's there now.
edit on 16-8-2011 by BlackStar99 because: (no reason given)



posted on Aug, 16 2011 @ 02:52 AM
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reply to post by BlackStar99
 


Screenshot of current European stocks from marketwatch.com



The market has been very volatile, atleast in the past few weeks. Of course some more bad news would come out and shock the market. Asia did so-so today. Im going to guess, if the european stocks finish terrible, it will spill over into the US stocks today to. Then Moodys also lowered expectations of the US economy yesterday. But back on Europe, their situation looks extremely horrible. Do they even have enough money to bail themselves out?



posted on Aug, 16 2011 @ 02:57 AM
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From the same article cited in the OP:


Germany’s economy, Europe’s largest, almost stalled in the second quarter as the region’s sovereign-debt crisis damped confidence. Gross domestic product, adjusted for seasonal effects, rose 0.1 percent from the first quarter, when it jumped a revised 1.3 percent, the Federal Statistics Office in Wiesbaden said today. Economists had forecast growth of 0.5 percent, according to the median of 33 estimates in a Bloomberg News survey.


Europe's largest economy and the anchor of the Eurozone and it almost slowed to stalled speed. Yet another blow to the Eurozone!



posted on Aug, 16 2011 @ 03:01 AM
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And next quarter, German GDP will contract.

And Soros is full of it with his eurobond solution. It's not a solution by any stretch of the imagination.

It puts all Europe's debt on France and especially GERMANY's shoulders.

Soros is an enemy of free humanity, he should be in jail for advocating the slavery of Europeans to the bankers.
edit on 16-8-2011 by Vitchilo because: (no reason given)



posted on Aug, 16 2011 @ 03:04 AM
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Originally posted by buni11687
reply to post by BlackStar99
 

Im going to guess, if the european stocks finish terrible, it will spill over into the US stocks today to.


Yeah another bad day here is inevitable, unless they actually come out of their meeting with a solution, but we all know how that usually goes...



Then Moodys also lowered expectations of the US economy yesterday. But back on Europe, their situation looks extremely horrible. Do they even have enough money to bail themselves out?


I don't think most countries have the money to pay off the debts they've inquired.



posted on Aug, 16 2011 @ 03:31 AM
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Some other important reports that come out today, that you should watch for are the UK's Consumer Price Index(Measures inflation over the year), Retail Price Index, and Consumer Confindence Index. The flash GDP numbers for Euro are released. In the U.S., import price reports, as well as building permit applications, housing starts, and industrial production numbers come out.

UK's numbers in now and it's actually not bad; www.forexcrunch.com...
edit on 16-8-2011 by BlackStar99 because: (no reason given)



posted on Aug, 16 2011 @ 03:42 AM
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Eurozone flash GDP numbers should be out in 19 minutes so stay tuned.

ETA: Down from 0.8% to 0.2%! Uh oh
edit on 16-8-2011 by BlackStar99 because: (no reason given)



posted on Aug, 16 2011 @ 04:06 AM
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reply to post by BlackStar99
 





Eurozone flash GDP numbers should be out in 19 minutes so stay tuned


I havent really been keeping up with Eurozone GDP, but what numbers are they looking for? And, what are the numbers they dont want to see?



posted on Aug, 16 2011 @ 04:14 AM
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Originally posted by buni11687
reply to post by BlackStar99
 





Eurozone flash GDP numbers should be out in 19 minutes so stay tuned


I havent really been keeping up with Eurozone GDP, but what numbers are they looking for? And, what are the numbers they dont want to see?


The Eurozone GDP measures the economic growth of the Eurozone as a whole, and it came out showing a significant decline in growth.



posted on Aug, 16 2011 @ 04:20 AM
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rant/
I guess we are again on the cliff edge staring into the abyss.. part of my feels like we should just jump off and see what happens instead of the incessant worry caused by staring into the abyss.. and part of me want them to actually do something constructive and helpful, perhaps by helping to lay foundations that could kick starting new wealth creation schemes, aside from that I feel quite helpless watching the decline of our society
/rant

ETA: Sorry op for the off topic rant...
edit on 16/8/11 by thoughtsfull because: (no reason given)



posted on Aug, 16 2011 @ 07:12 AM
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The decline followed data showing the euro-zone gross domestic product rose 0.2% in the second quarter from the preceding three months, after growing 0.8% in the first quarter.



posted on Aug, 16 2011 @ 07:22 AM
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This is going to be interesting as the US driven recoup after the bad days last week were indeed due to the hope that Germany and France will give the votes to a bailout for European banks.

Now their data is not as encouraging as many investors were expecting, perhaps the EU crisis is worst than what many were "hopeful".

Let see how this will affect the US markets this week.



posted on Aug, 16 2011 @ 01:20 PM
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it seems that the bad news about the slow Germany GDP growth and France troubles is affecting our markets today.

I guess is not going to be any bailouts coming from them.



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